Daily archives: June 27th, 2016

FINTS EVENING HIGHLIGHTS (27 Jun 2016)

The development plan for the Yangtze River Economic Belt has been issued to 11 provinces and municipalities along the river, the 21th Business Herald reported, citing sources within the NDRC China’s Ministry of Industry and…


Shanghai-Hong Kong Stock Connect (27 Jun 2016)

Northbound stock trade sees a net fund inflow of 136 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 136 million yuan for northbound trade on Monday. The Shanghai…


Baosteel, Wuhan Steel announce restructuring plans

China’s second and sixth largest steelmakers by 2015 output announced on Sunday that they are in restructuring talks, which might lead to the creation of the country’s largest steel plant. Shanghai-based Baoshan Iron & Steel…


PBOC’s multiple objectives inseparable from China’s transitional economy

The head of China’s central bank made a detailed elaboration on the bank’s objectives and roles for the first time at a meeting over the weekend, saying its multiple objectives have to do with China’s circumstances as…


China Stock Market Roundup (27 Jun 2016)

China’s stock market closed higher on Monday, as Chinese investors shrugged off Britain’s decision to leave the European Union last week and on expectations that the much-anticipated Shenzhen-Hong Kong Stock Connect may be announced on July…


Bitcoin surges thanks to Brexit

Trading for the bitcoin has peaked at $675 on June 24, following a dramatic increase after Britain voted to leave the EU. Even a day before the referendum, it has fell to $600 amid a…


FINTS LUNCH TRAY (27 Jun 2016)

Premier Li Keqiang warned of the “butterfly effect” caused by the regional instability The CFETS RMB exchange rate index closed at 95.29 on June 24, dropping by 0.53% from a week before Outstanding amount of…


Alipay reportedly acquires 25% stake in Wirecard

Alipay, a mobile payment system of e-commerce conglomerate Alibaba, is reportedly to acquire a stake of up to 25% in Wirecard AG, a German banking software company, according to a German source. Alipay owns over…


AIIB president says China has tools to deal with Brexit

Jin Liqun, president of the China-backed Asian Infrastructure Investment Bank (AIIB), said over the weekend that China has ample fiscal space to cope with any market turbulence triggered by the UK’s decision to leave the…


New batch of internet rules issued following investigation on Baidu

China’s internet regulator, the Cyberspace Administration of China, has rolled out new rules for online search and advertising, six weeks after it launched an investigation on Baidu following the death of a 21-year-old college student…


Vanke’s managements seemingly losing latest takeover tussle

Baoneng Group, the largest shareholder of Vanke, have asked for an extraordinary general meeting (EGM) to reshuffle Vanke’s board of directors, including Chairman Wang Shi and President Yu Liang. Vanke said that the company received…


FINTS MORNING BRIEF (27 Jun 2016)

Vanke confirms that the company has received a requisition notice from the largest shareholder on convening an extraordinary general meeting to reshuffle all directors having not applied for resign yet Baoneng Group, Vanke’s largest shareholder, looks to…